One question that arises in the mind of aspiring developers is: How much money do apps make? There are many different types of apps and the answer to that question depends on the target audience. Consumers are willing to spend their time and money to try out new apps, but they are less likely to pay for a paid service until they have used the app enough to like it. A successful app offers tangible benefits to its users. If it offers the same information that can be found on the website, no one will use it. In this sense, free apps are the best option, while paid ones should be aimed at businesses that have a loyal audience.
In the monetization arena, the type of app you choose matters. If the application is free, it will be downloaded more frequently and generate a higher revenue than a paid app. Free apps can be used for lead generation and upselling existing clients. For example, a free app can be used to generate leads for your product. The free app is then used to generate revenue, allowing you to sell more products to existing clients.
Millennials are a particularly lucrative audience for paid apps. While the top 200 grossing apps earn an average of $82,500 each day, the top 800 gross a total of $35,000 a day. The revenues generated by apps are staggering – according to one estimate, in-app purchases and advertising will reach $188.9 billion by 2020! But how do you make money with free apps? Listed below are some ways in which the top apps generate revenue.